COVID-19 Coronavirus Resources

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MORE MONEY AVAILABLE: GOVERNMENT LOANS UP TO $2 MILLION AND $10,000 GRANTS AVAILABLE TO HELP YOUR BUSINESS OR NONPROFIT

 

Disaster loan program ADDED $60 billion to distribute on first-come, first-served basis

 

WHAT IS IT?

U.S. Small Business Administration (SBA) Economic Injury Disaster Loan and Grant

Low interest loans of up to 30 years that you might not have to start repaying for one year

Applicants who are declined for a loan may receive a $10,000 grant that does not have to be paid back

 

WHO IS ELIGIBLE?

Businesses and nonprofits with 500 or fewer employees

 

HOW DO YOU GET IT?

Apply on the SBA website: https://covid19relief.sba.gov/#/

 

WHAT CAN I USE THE MONEY FOR?

  • Mortgage payments or rent
  • Payroll costs
  • Higher cost of materials
  • Utility payments
  • Other things the SBA approves

 

WANT MORE INFO OR ADVICE?

  • Visit the SBA’s Economic Injury Disaster Loan website

  • Business Mentor NY is a free, easy-to-use mentorship network that allows entrepreneurs and volunteers across different NYS industries – from law firms to financial professionals – to assist businesses with questions related to the impact of COVID-19 and to provide guidance on the SBA loan applications. The service is open to non-profit organizations.

  • Empire State Development has published a guide to PPP for nonprofits.

  • Lawyers Alliance for New York is a leading provider of business and transactional legal services for nonprofit organizations and social enterprises that are improving the quality of life in New York City neighborhoods. It has created a Coronavirus Information webpage with legal information on operating a nonprofit organization during this challenging time.

  • Volunteer Lawyers for the Arts: (VLA) is the leading legal aid and education organization dedicated to New York artists and its arts and cultural organizations. Understanding the challenges that are being faced by artists and arts institutions, VLA is working to expedite COVID-related matters to ensure those affected receive crucial legal assistance. Artists and arts organizations seeking legal assistance should fill out a legal inquiry form on VLA's website, indicating that it is a COVID-related request.